Tencent-backed DouYu’s US$775 million IPO is the largest by a Chinese company in the US this year

//Tencent-backed DouYu’s US$775 million IPO is the largest by a Chinese company in the US this year

Tencent-backed DouYu’s US$775 million IPO is the largest by a Chinese company in the US this year

Live-streaming platform DouYu International Holdings has raised US$775 million, making it the largest Chinese IPO in the US this year after the company priced its deal at the low end of the indicative range.DouYu, which is backed by Chinese gaming giant Tencent Holdings, sold 67.4 million American depositary shares (ADS) at US$11.5 each, giving it a valuation of US$3.73 billion.The company had set a pricing target of US$11.5 to US$14 for the ADS. Every 10 ADS represent one share.Despite a…

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By | 2019-07-17T04:30:22+00:00 July 17th, 2019|Business|Comments Off on Tencent-backed DouYu’s US$775 million IPO is the largest by a Chinese company in the US this year